Which is why many fall victim of scam projects and shit coins.
actually you are wrong. Patience is the reason why so many are falling victim of scam projects. they are fooled into believing that if they buy and "bag hold" but call it patience then they will make a lot of profit. whereas in reality they are bag holding and losing money as prices continue to fall.
altcoins are mostly pump and dumps. when you buy into the pump you must sell before the dump begins or you will end up losing 80% or 90% of your investment. just ask thousands of newbies who have been losing that much in the past 9 months because they had "patience"!
Couldn't agree more with this statement, but this usually applies to ICOs, not to regular cryptocurrencies that have decent community development going on.
I've seen so many people who keep promoting projects, while they obviously have no intention of releasing any sort of product.
A lot of these ICOs are just quick money grabs and will disappear once they have their funding.
Exactly, there are only few ICOs that are promising and most of them are worthless investments. They will not improve their products after they grab the money of investors. They will just disappear like nothing happens.